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Dec 6, 2012
12/12
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there are two ways to deal with that -- build another fiscal cliff to put on pressure, which puts us right back where we are, or have a default mechanism which has policy set aside that both sides do not like. one thing about the baseline -- under current law, if the congress packed its bags right now and went away, at the end of the 10-year period our debt to gdp ratio would be under 1%. he would definitely solve the deficit problem. >> under 1%? >> i believe. >> the percentage of your debt -- not the deficit to gdp? >> debt to gdp. now, we do not want to get there that way. the same way we do not want to go over the fiscal class. the fiscal cliff is big austerity -- you get $7 trillion in deficit reduction over 10 years. but you do not do it you really want to do it. when it comes to the baseline, you have to work together as part of an agreement to get to the right baseline. that does not mean it is not real world deficit-reduction. it is. does it mean it is better than current law? maybe not. but there is agreement that current law, including the fiscal cliff, is not the best way
there are two ways to deal with that -- build another fiscal cliff to put on pressure, which puts us right back where we are, or have a default mechanism which has policy set aside that both sides do not like. one thing about the baseline -- under current law, if the congress packed its bags right now and went away, at the end of the 10-year period our debt to gdp ratio would be under 1%. he would definitely solve the deficit problem. >> under 1%? >> i believe. >> the...
119
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Nov 29, 2012
11/12
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cliff and put it in place a comprehensive debt deal to deal with our country's fiscal challenges. the message they bought was we do not want you to go off the cliff. we do not want to bet the country. we want you to fix the country. we had a number of productive meetings in the past couple of days at the white house and leadership with the house and senate. and the first of house and senate members. we have come back pleased that we have been able to deliver the message of how the are so many people with different backgrounds and political points of view and life experiences who believe this is a critical moment for the country and a test for the country. but we are asking the members of congress to do is come together and take on these challenges, work together and put in place a plan for the good of the country. it is not about special interests. it is about public interest. this is a message dated first group of folks -- a diverse group of folks can deliver. on the campaign to fix the debt, i am so thrilled with what has happened in the past couple of months where what was an i
cliff and put it in place a comprehensive debt deal to deal with our country's fiscal challenges. the message they bought was we do not want you to go off the cliff. we do not want to bet the country. we want you to fix the country. we had a number of productive meetings in the past couple of days at the white house and leadership with the house and senate. and the first of house and senate members. we have come back pleased that we have been able to deliver the message of how the are so many...
97
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Nov 29, 2012
11/12
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republicans want to avert the fiscal cliff in its entirety. what we need is the president to come forward with a plan on how he wants to avert the fiscal cliff. it is irresponsible of us not to deal with the spending issue and simply to push for raising taxes on hard-working american people. many of us come from small- business backgrounds -- family owned businesses. we understand the situation very well. but it is important we not pass this problem along to our children and grandchildren, but we deal with it in a responsible way. the republicans have come forward with a responsible plan and will continue to do that and look for ways to keep us from going over this fiscal cliff. >> we have time for a couple questions before we go to our meeting. >> your colleague has told other colleagues that it is time to vote to extend the middle- class tax cut -- i want to get your take on his comments. more importantly, is this the direction the conference is going? >> i told tom earlier that i disagree with him. he is a wonderful friend and a great suppo
republicans want to avert the fiscal cliff in its entirety. what we need is the president to come forward with a plan on how he wants to avert the fiscal cliff. it is irresponsible of us not to deal with the spending issue and simply to push for raising taxes on hard-working american people. many of us come from small- business backgrounds -- family owned businesses. we understand the situation very well. but it is important we not pass this problem along to our children and grandchildren, but...
88
88
Nov 30, 2012
11/12
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people are talking about the fiscal cliff on january 1. let's give businesses the service. their employees can pass the middle income tax cut now. >> i would like to add that basarah were sar participants in the discussion. when they went to the table as representatives of the house democrats, the next -- no instructions except to reach an agreement. the overriding value was to get the jobs done for the american people. the only thing i said i wanted to say was jobs and economic growth would be the centerpiece of the discussion. whatever decisions we would unmake as far as cuts and revenue or raising them with center around how we create jobs. that is how we will reduce the deficit by creating jobs. every time we came to the idea of bold balance, the rivet a question was the hurdle and it is still does. we cannot get there from here in terms of deficit reduction. you can grow your way he to there, but you have to have the revenue as a confidence-building that we are responsible. we will get the job done. he had ended their meeting to go to so he is not here with us now. why
people are talking about the fiscal cliff on january 1. let's give businesses the service. their employees can pass the middle income tax cut now. >> i would like to add that basarah were sar participants in the discussion. when they went to the table as representatives of the house democrats, the next -- no instructions except to reach an agreement. the overriding value was to get the jobs done for the american people. the only thing i said i wanted to say was jobs and economic growth...
164
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Nov 30, 2012
11/12
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the fiscal cliff? and you think that just the promise of spending cuts have to be included at this level and at this time? >> it is not productive for either side to lay out hard lines as for what size the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was? >> my question is do you think the promise of spending cuts has to be included in the deal that averts the fiscal cliff? >> there is a free-market we presented to the white house two weeks ago. the framework has been agreed to in terms of a down payment for the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform next year. but this is way out of bounds. and not a recognition by the part of the white house on the serious spending problem we have. >> facing the prospect of going over the fiscal cliff or extending the lower tax rate and at the upper one, which would you choose? >> i will
the fiscal cliff? and you think that just the promise of spending cuts have to be included at this level and at this time? >> it is not productive for either side to lay out hard lines as for what size the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was? >> my question is do you think the promise of spending cuts has to be included in the deal that averts the fiscal cliff? >> there is a free-market we...